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March Networks’ Financial Solution helps 400th institution to improve security and curb losses

Published on 6 October, 2010

March Networks provides financial security solution to over 400 customers
Over 75 banks and credit unions have switched to March Networks' security solutions in the past 18 months
March Networks®, a global provider of intelligent IP video solutions, surpassed the 400th financial customer milestone with the announcement that U.S.-based Community Bancshares, Inc. has selected a comprehensive March Networks Financial Solution to augment security and stem losses associated with fraudulent transactions, ATM skimming and other crimes.

Community Bancshares, Inc. is one of more than 75 institutions to switch to the company's industry-leading Financial Solutions in the past 18 months. It joins a growing community of March Networks banking customers that includes four of the top 10 U.S. banks, three of Mexico's five leading banks, a majority of the "Big Five" Canadian banks, and top financial institutions in Australia, New Zealand, the United Arab Emirates, Denmark and Italy, as well as hundreds of regional banks and credit unions.

"Banks worldwide are losing more than $1 billion annually from credit card fraud and electronic crime associated with ATMs," said Paul Novak, March Networks' General Manager, Global Financial Solutions. "Increasingly, they are turning to March Networks for powerful analytics and case management tools to better detect and prevent fraudulent activity, and drive profitability as a result. Combined with our highly-reliable video surveillance systems, these advanced applications deliver the business intelligence that banks consider critical to their efficient operation and are once again investing in as the economy improves."

March Networks has evolved its Financial Solutions offering over nearly a decade to meet the specific requirements of the financial industry. The solutions include enterprise-class video management and hybrid recording systems, high-definition IP cameras and intelligent video analytics. They also include integrated applications for fraud detection and prevention, such as Financial Transaction Investigation (FTI) software, which synchronises ATM and teller transaction records with recorded video evidence, enabling fraud investigators to conduct investigations quickly, lower the cost per investigation, and build stronger case evidence to support successful prosecutions.

"The March Networks systems have a proven reputation for reliability," said Jonathan White, Chief Information Officer, Community Bancshares, Inc., which is working with March Networks certified provider Red Hawk Industries, a UTC Fire and Security Company, to deploy the financial solution. "The centralised management capability, combined with advanced fraud detection applications, means that we will see a return on our surveillance investment more quickly compared with the other systems we reviewed."

To see a live demonstration of the company's Financial Solutions, visit March Networks in Booth 532 at the ASIS International Seminar and Exhibits, October 12-14, at the Dallas Convention Centre in Dallas, Texas.

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